for more, download the cbs news app on your cell phone or connected tv. i'm shanelle kaul, cbs news, new it's thursday, march 16th, 2023. this is the "cbs morning news." financial lifeline. days after two u.s. banks collapsed one of europe's biggest lenders gets help as investor fears drag down world markets. risky rescue. a man hangs on for dear life, trapped in a california river. how the recent storms made the lifesaving airlift especially dangerous. targeting tiktok. the white house takes a harder stance on a possible nationwide ban of the popular app. good morning, and good to be with you. i'm anne-marie green. we begin with renewed concerns about the strength of the nations's banking industry. today treasury secretary janet yellen will face members of th te fance cmittee

following the collapse of two u.s. banks. investors grew more concerned over worries that the second largest swiss lender would run out of money. it was announced today credit suisse will borrow $54 billion to maintain its financial health. jarred hill is in new york with more on all of this. good morning. >> reporter: good morning, anne-marie. economists have noted that the troubles with credit suisse were will known and in didn't come as a complete shock. but that on top of the collapses of the two american banks have regulators in the u.s. really struggling to convince investors that the banking system as a whole is stable. as one said, if people think there's a problem, there will be a problem. [ bell ] turbulence on wall street wednesday after shares of one of europe's largest banks plunged. credit suisse announced it will borrow nearly $54 billion from the swiss national bank to shore up its finances. >> that's important because it means the institution can function.

>> reporter: investor panic led to stock losses for four major u.s. banks. it comes just days after federal regulators took over silicon valley bank and signature bank. today treasury secretary yellen is set to be grilled by a senate committee. she's expected to reiterate what she told "face the nation" earlier this week. >> the american banking system is really safe and well capitalized. it's resilient. >> reporter: in the wake of the failures of the two u.s. banks, there are new calls for accountability and legislation. the white house and congressional democrats pushing for tighter regulations. senate dems have introduced a bill that would claw back any bonuses or profits earned from stock sales within 60 days of a financial firm's collapse. >> these top executives should be held accountable. they almost cratered our entire banking system. >> reporter: but some republicans say it's too soon -- >> i think it would be premature

to start talking about solutions before we fully define the problem, and ultimately get answers from the regulators. >> reporter: on that path, the department of justice and the securities and exchange commission have launched investigations into the collapse of silicon valley bank. now senate democrats have also put up a bill that would repeal a trump-era law that loosened regulations on banks the size of svb. but some experts argue regulators still could have been monitoring more closely. back to you. >> they may have a point there. jarred hill in new york. thank you. >> reporter: yep. so breaking overnight, the u.s. condemned north korea after it launched an intercontinental ballistic missile. national security officials said the move needlessly raises tensions in the region. the missile flew more than 600 miles before landing in the city -- the sea between the korean peninsula and japan. it was north korea's fourth icbm launch in less than a year. it happened just hours before south korea's president flew to tokyo for a summit to discuss n.

south korea is also holding joint military drills with the u.s. a storm-weary california is bracing for another round of rain this weekend. many people are struggling to clean up the damage caused by back-to-back storms. tens of thousands still don't have power this morning following the latest atmospheric river. it caused landslides, flooded roads, and toppled trees. video shows firefighters rescuing a man trapped in the fast-moving los angeles river. he was clinging to a part of the concrete wall yesterday before first responders airlifted him to safety. the river had surged following those powerful storms. carter evans has more. >> reporter: storm-battered california has endured yet another pounding. governor gavin newsom toured hard-hit monterey county. >> one of my responsibilities to be here for people that are underserved and underrepresented. and we'll be back many times to get the work done. >> reporter: statewide after

this massive storm, oversaturated hillsides gave way sending a wall of mud into this northern california home. south of los angeles, mud shut down the pacific coast highway. the rain and wind toppling trees everywhere. >> there it goes. there it goes. oh, my god. oh. >> reporter: an all too common sight throughout the bay area. the high winds and then high water flooded the first floor of maria cid medina's home. >> we can't get a contractor out here now with the rain. >> reporter: and more rain is in the forecast. all these rivers are currently above flood stage. in the san bernardino mountains, too much snow in recent weeks turned overnight into too much rain. the warm atmospheric river rapidly melting the snow. the latest threat in a state that had been in extreme drought. just two years ago, san francisco had barely seven inches of rain. this year, more than 27 inches.

nearly a foot above normal. back in pajaro, anais rodriguez has spent five days in a shelter with hundreds of people. what's it like not knowing when you're going to be able to go home? >> you get mad, frustrated. >> reporter: carter evans, cbs news, pajaro, california. defense officials vow to continue flying drones over international waters even after a russian jet caused a u.s. drone to crash. debris from the mq9 reaper landed about 60 miles southwest of the crimean peninsula on tuesday. the incident prompted a rare phone call yesterday between defense secretary austin and his russian counterpart. it was the first time they spoke in nearly five months. >> this hazardous episode is a part -- is part of a pattern of aggressive, risky, and unsafe actions by russian pilots in international airspace. >> the u.s. says the drone's software was erased to ensure nothing valuable is retrieved by russia.

officials are still going through videos and photos, though, transmitted before the crash to see what happened. russia denies that it caused the accident. a new report this morning shows maternal mortality rates are increasing in the u.s. according to the cdc, more than 1,200 women died of maternal causes in 2021. that is compared to 861 deaths in 2020. the rates were higher for black women compared to white women and hispanic women. researchers did not cite causes for the overall increase in deaths. a federal judge in texas plans to issue a ruling as soon as possible regarding a major abortion rights case. the judge heard arguments yesterday regarding the fda's approval of a common abortion pill. a lawsuit seeks to overturn that approval questioning whether the medication is safe to take. people from both sides rallied outside the courthouse. >> seen women in my office who have bled for six weeks, eight weeks. gone back to the abortion

provider on multiple occasions only to be given another set of pills, not to be offered the surgery they need. >> senseless to care so much about something that doesn't affect you in any way, shape, or form. you care so much? >> the pill when used with a second drug is considered the most common method of abortion in the u.s. a tiktok spokesperson says the biden administration is demanding the chinese-owned app be sold or risk a nationwide ban. ite amwing frs taan oth now a spokesperson tk oms ppoind but plans to spend $1.5 billion on a stronger firewall between tiktok and its beijing parent company. an american acquisition would require approval from china. coming up, aaron rodgers' future. the green bay packers quarterback confirms he wants to

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injured at the zoo after a tree limb fell on them. authorities say a large branch unexpectedly snapped yesterday. a witness said a large part of the branch fell on top of benches where people were sitting. one person was hospitalized in critical condition. the other six were taken to the hospital as a precaution. "the sacramento bee" says the fbi is investigating after someone crashed a helicopter while apparently trying to steal it. the break-in happened yesterday morning at the sacramento executive airport. officials said the suspect tried to start several helicopters on the tarmac. authorities found one aircraft on its side with major damage. so far no one has been arrested, and the fbi says destruction of an aircraft is a federal felony. and "the green bay press gazette" reports that packers quarterback aaron rodgers says he intends to play for the new york jets next season. the four-time mvp confirmed yesterday on the "pat mcafee show" that he met with jets als.

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honda has issued a major recall, and a new study ranks the dirtiest produce items in the grocery store. shanelle kaul has those stories and more in today's cbs "money watch" report. >> reporter: u.s. stocks tumbled wednesday as investors fear the banking sector may continue to consume global markets. the dow lost 280 points. the nasdaq gained 5, and the s&p 500 was down by 27 points. honda is recalling almost 500,000 vehicles in north america over a seatbelt issue. the company says a manufacturing problem could prevent the front seatbelt from latching. the recall goes back to 2017, affecting several models including the crv, accord, and odyssey. honda says there are no reported injuries tied to the issue.

april 17th, and dealers will fix the belt for free. richard branson's virgin orbit is ceasing operations for a week as it looks for more funding. nearly all except essential employees have been furloughed. the british builder's rocket company says it plans to provide an update on go-forward operations in the coming weeks. and strawberries have once again topped the list for nonorganic produce with the most pesticides. nonprofit environmental working group tested more than 46,000 samples of fruits and vegetables for 251 different pesticides. spinach held onto the number-two spot followed by kale, collard, and mustard greens. that's your cbs "money watch" report for this thursday morning. i'm shanelle kaul, cbs news, new york. nasa astronauts will have a new updated spacesuit for their return to the moon. nasa and the houston-based aerospace company axiom space

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breaking news, traffic is crawling across the bay bridge now after a deadly crash. i've got lane closures and best

alternate routes coming up. we'll have a look at the back up. we're driving through the peninsula this morning taking a look at power outages. thousands are still in the dark. coming up, we will give you a look at that and how businesses are being affected. it's going to be a sunny afternoon but we still have a chance of rain in the forecast. i will time that out for you. we've had one collective comment after another. >> just was really angry about the lack of response from school administration. >> two masked students storm a classroom and attack another student. why parents and their kids are questioning how the school handled this. in san jose a teen is recovering from stab wounds. they're raising concerns of what is going on in our bay area schools. let's get